Happy Democracy Day Nigeria: Achievements of President Buhari Administration

Democracy day is a public holiday in
Nigeria.This public holiday
commemorates the restoration of democracy in the Federal Republic of Nigeria,
when the newly elected Olusegun Obasanjo took office as the President of
Nigeria May 1999 ending multiple decades of military rule.

Happy Democracy Day Nigeria.

As we
mark this day, we also reflect on the Midterm Achievements of President Muhammadu Buhari and
Yemi Osibanjo Administration.

Today May 29th 2017 marks 2 years of
the President Muhammadu Buhari and Yemi Osinbajo led administration of
Nigeria.

The presidency has
released a detailed document of the achievements of this
administration. The achievements of Buhari administration so far
are divided into 3 parts. This is the Mid Term report of President
Buhari. Read below as published by the FG on Medium

1. We will be
updating this page with visuals and graphics and more videos in the days ahead.

2. The
Factsheet has been organized primarily into three categories: Economy;
Transparency and Anti-Corruption; and Security — along the lines of the
priority areas highlighted by President Buhari during the presidential
campaign. He was elected on the strength of his Promise to revive and restore
the economy; fight corruption; and secure Nigeria from terrorism and other
forms of insecurity.

3. We have
also included a section on Foreign Relations and Diplomacy, inextricably linked
with the 3 priority areas outlined above.

4. Join the
conversation on Social Media using the hashtag #PMBMidTerm

ECONOMY

Growth in
Agriculture and Solid Minerals:

The number of
sub-sectors of the economy experiencing negative growth has almost halved;
falling from 29 sub-sectors for the whole of 2016 to 16 in Q1 2017.Growth in
manufacturing has returned to positive territory after five quarters of
negative growth. It grew by 1.36% in Q1 2017 after falling to -7.0% in Q1 2016.

Our priority
Sectors of Agriculture and Solid Minerals have seen improved performance, in
spite of the recession. Agriculture grew by 4.11% in 2016, while Solid Minerals
recorded a 7% increase. The contribution of the Ministry of Solid Minerals’ to
the Federation Account tripled to about N2 billion in 2016, up from N700m in
2015.

Savings:

Even at a time
of low oil prices (and by implication low government revenues):

· Nigeria’s
External Reserves have grown by US$7 billion since October 2016

· The
Sovereign Wealth Fund has seen inflows of US$500m in 2016 and 2017 (the first
inflows since the original US$1bn with which the Fund kicked off in 2012), and

· The Excess
Crude Account has seen an inflow of US$87m, in 2017.

Phasing Out of
Subsidy Regimes for Petroleum Products and Fertilizers.

The Anchor
Borrowers Programme (ABP) of the Central Bank of Nigeria (details below),
combined with a newly developed soil map designed to aid fertilizer
application, substantially raised local production of grains in 2016 (yields
improved from 2 tonnes per hectare to as much as 7 tonnes per hectare, in some
States) and produced a model agricultural collaboration between Lagos and Kebbi
States.

Nigeria’s rice
imports fell from 580,000 MT in 2015 to 58,000MT in 2016

The Presidential Fertilizer Initiative(which involves a
partnership with the Government of Morocco, for the supply of phosphate), has
resulted in the revitalization of 11 blending plants across the country, and
the production, so far, of 300,000 Metric Tonnes of NPK Fertilizer. Other
benefits include annual savings of US$200 million in foreign exchange, and ₦60
billion annually in budgetary provisions for Fertilizer subsidies. The Scheme
has also made it possible for Farmers to purchase Fertilizer at prices up to 30
percent cheaper than previously available.

Support for
Micro, Small and Medium Enterprises: The Administration has launched a series of funding
and capacity development initiatives designed to support MSMEs across the
country, as follows:

· The new
Development Bank of Nigeria (DBN) is finally taking off, with initial funding
of US$1.3bn (provided by the World Bank, German Development Bank, the African
Development Bank and Agence Française de Development) to provide medium and
long-term loans to MSMEs

· The MSME
Clinic, which bring relevant Government Agencies and their managements together
with small businesses operating in various cities across the country, to enable
the Agencies provide direct support to these businesses. The Interactions allow
the Agencies better understand the issues facing small businesses, and provides
a platform for speedy resolution.

· The Ease of
Doing Business Reform Programme (see below)

· The
Government Enterprise and Empowerment component (GEEP) of the Social
Intervention Programme (SIP)

Ease of Doing
Business Reform Successes: The Presidential Enabling Business Environment Council
(inaugurated by President Buhari in August 2016) implemented a 60 National
Action Plan between February and April 2017, with 70 percent of the Targets
achieved, including the following:

· Intending
Business Owners can now search for Company names on the website of the
Corporate Affairs Commission (CAC)

· Intending
Business Owners can now upload their registration documents directly to the
website of the Corporate Affairs Commission (CAC)

· Eliminated
the need for SMEs to hire lawyers to prepare registration documents

· Introduced a
single form for Company Incorporation to save time and reduce cost

· Federal
Inland Revenue Service (FIRS) e-payment solution has been integrated with the
CAC portal to facilitate e-stamping.

· Interested
parties can conduct online searches of secured interests on movable assets on
the National Collateral Registry

· New Arrival
and Departure forms for use at our International airports. The new forms are
shorter, and have also consolidated a number of previously separate forms into
single documents.

· Minister of
Interior has approved and launched a new Immigration Policy for Nigeria.

Acting
President Yemi Osinbajo has since followed up on the National Action Plan by
signing, in May 2017, Executive Orders on Improving Efficiency in the Business
Environment, and on Promoting Local Procurement by Government Agencies.

Infrastructure:

· The Buhari
Administration has demonstrated a single-minded commitment to upgrading and
developing Nigeria’s Transport Infrastructure.

· Road
Projects are ongoing across every State of the country; many of these projects
had been abandoned in recent years because of mounting debts owed by the
Federal Government to contractors.

· The
Administration is also pushing ahead with the revitalization of Nigeria’s
3,500km network narrow-gauge railway. In March 2017 a consortium led by General
Electric, and comprising Transnet of South Africa, APM Terminals of the
Netherlands and Sinohydro Consortium of China submitted the sole bid for the
concession of the Lagos-Kano Railway narrow-gauge Line. (Transaction Advisers
were approved for the project in 2016). In May 2017 the Federal Executive
Council (FEC) approved the commencement of negotiations with GE to conclude the
concessioning.

· In addition,
Abuja’s Light Rail system will also go into operation (test-run) in 2017. The
first line to be launched will connect the city center with the Airport, with a
link to the Abuja-Kaduna Railway Line. The test-run will start in November
2017, ahead of full commencement of operations in Q1 2018.

· The Buhari
Administration successfully completed the reconstruction of the Abuja Airport
runway within the scheduled six-week period (March — April 2017).

· Ongoing FX
regime reforms by the Central Bank, which have seen increased stability in the
FX market, and increasing appetite for Nigerian stocks by foreign portfolio
investors. Reforms include the creation in April 2017 of a New FX Window for
Investors and Exporters. The new Window has attracted $1.4bn in its first four
weeks of operation, according to data from the Central Bank of Nigeria.

· Revision of
the List of 41 Items excluded from the Central Bank FX Window, in line with a
request from the Manufacturers Association of Nigeria (MAN)

· The
establishment of the Nigerian Office for Trade Negotiations by the Economic
Management Team (EMT), and

· The
Introduction of a new, Tariff-driven Tomato Policy to support domestic
producers and production.

A new
Social Housing Programme is kicking off in 2017. The ‘Family Homes
Fund’ will take off with a 100 billion Naira provision in the 2017 Budget. The
rest of the funding will come from the private sector. A pilot component has
already kicked, to construct the first set of homes for the Programme)

1.2 Trillion
naira has been released for capital expenditure in the 2016 budget, since implementation started in June
2016. This is the largest ever capital spend within a single budget year in the
history of Nigeria. This investment has enabled the resumption of work on
several stalled projects — road, rail and power projects — across the country.

All 4
components of the Social Investment Programme (SIP) have now taken off.

· The SIP is
the largest and most ambitious social safety net programme in the history of
Nigeria, with more than 1 million beneficiaries so far — 200,000 N-Power
beneficiaries (160,000 of them have had their details validated and are now
receiving the monthly N30,000 stipend, while the rest are undergoing
verification.

3,162,451
people belonging to 26, 924 registered cooperatives have been registered for
the Government Enterprise and Empowerment (GEEP) Scheme. 57,234 interest-free
(except a one-time low administrative fee) loans have been issued, across 28
States and the FCT. 56% of loans so far disbursed has gone to female
beneficiaries.

· 1,051,000
Primary School Pupils are currently benefiting from the Homegrown School
Feeding Programme (HGSFP), in 8,587 schools across seven States. More than
11,000 cooks have been employed for the HGSFP.

· Under the
Conditional Cash Transfer (CCT) Programme, 26,942 beneficiaries are now
receiving the monthly N5,000 stipend in 9 States and 84 Local Government Areas.
The States are Borno, Cross River, Niger, Kwara, Ekiti, Kogi, Oyo, Osun and
Bauchi.

Strategic
Engagements with OPEC and in the Niger Delta have played an important part in
raising our expected oil revenues. Already, Nigeria’s External Reserves have
grown by around $7 billion in the last six months. In the same period we have
added $87m to the Excess Crude Account, and $250m to the Sovereign Wealth Fund.

New Vision
for the Niger Delta:

Acting
President Osinbajo is leading the engagement, on behalf of President Buhari and
the Federal Government. The Vice President has been visiting oil-producing
communities across the Niger Delta, listening to them and outlining the Federal
Government’s commitment to the peace, security and development of the region — encapsulated
in the Buhari administration’s ‘New Vision for the Niger Delta’.

The New
Vision brings together a robust set of promises, solutions, targets and
initiatives aimed at ensuring that the people of the Niger Delta benefit
maximally from the region’s oil wealth.

The New
Vision offers a detailed response to the 16-point Demand Agenda submitted to
President Buhari by the Pan Niger Delta Forum (PANDEF) in November 2016.

Tangible
results of the New Vision so far include:

· Approval
of a 2017 commencement date for the stalled Nigerian Maritime University in
Delta State

· Approval
by President Buhari of an additional 35 billion naira for the 2016 budget of
the Presidential Amnesty Programme

· Approval
for the establishment of Modular Refineries across the nine States of the Niger
Delta

· Resumption
of construction work on abandoned projects across the Niger Delta, including
the all-important East-West Road.

Beneficial
Government-to-Government Partnerships with China and Morocco: President
Buhari’s April 2016 Official Visit to China has unlocked billions of dollars in
infrastructure funding. Construction work has commenced on the first major
product of that collaboration, a 150km/hour rail line between Lagos and Ibadan.

The National
Economic Recovery and Growth Plan (NERGP), the Federal Government’s medium-term
Economic Plan, launched by President Buhari in April 2017, charts a course for
the Nigerian economy over the next four years (2017–2020).

The Vision
of the NERGP is to restore economic growth, invest in Nigerians, and to build a
globally competitive economy, and the Plan aims to achieve these by focusing on
five execution priorities:

·
Stabilizing the macroeconomic environment;

· Achieving
Agriculture and Food Security;

· Ensuring
energy efficiency (especially in power and petroleum products);

· Improving
transportation infrastructure; and

· Driving
industrialization primarily through SMEs.

The ERGP
will return Nigeria’s economy to sustainable, inclusive and diversified growth,
and to transform Nigeria from an import-dependent to a producing economy; a
country that grows what it eats and consumes what it produces.

The almost
8-fold oversubscription of our recent Eurobond (orders in excess of US$7.8
billion compared to a pre-issuance target of US$1bn) demonstrates strong market
appetite for Nigeria, and shows confidence by the international investment
community in Nigeria’s economic reform agenda.

Power
Sector:

· Power
Sector Reform is on course with the launch of the 701 billion Naira Payment
Assurance Programme designed to resolve the liquidity challenges in the Power
Sector by guaranteeing payments to Generating Companies and Gas Suppliers,
while the Federal Government undertakes the much-needed reform and
strengthening of Distribution Companies.

· In addition
to the PAP is a much more comprehensive Power Sector Recovery Programme,
launched in March 2017 and which has received the endorsement of the World
Bank.

Improved
Local Refining Capacity: The total amount of Crude refined by the NNPC’s three
Refineries (Port Harcourt, Warri and Kaduna) grew from 8m barrels in 2015 to
24m barrels in 2016, and 10m barrels in the first quarter of 2017.

ANTI-CORRUPTION
AND TRANSPARENCY

The
Presidential Initiative on Continuous Audit (PICA):

· PICA was
set up by President Muhammadu Buhari to strengthen controls over Government
finances through a continuous internal audit process across all Ministries,
Departments and Agencies (MDAs), particularly in respect of payroll. Through
the activities of PICA, more than 50,000 erroneous payroll entries have been
identified, with payroll savings of N198 billion achieved in 2016.

· Also, the
Federal Ministry of Finance has set a target to ensure that the Federal
Government’s Payroll Platform — the ‘Integrated Personnel Payroll Information
System’ (IPPIS) — covers 100 percent of MDAs by the end of 2017. Currently 60%
of MDAs are enrolled on the IPPIS platform.

Budget
Reforms:

· First, a
Presidential Order was issued directing that all budgets of all Government
Agencies be prepared in line with International Public Sector Accounting
Standards (IPSAS), using a budget template developed for that purpose.

· Second,
the 2017 Budget was collated using a web-based application developed by the
Budget Office of the Federation (BOF), for the first time ever. Instead of the
traditional method of hard copy submissions of budget proposals, Ministries,
Departments and Agencies were asked to upload their proposals to the new budget
preparation portal.

· By
replacing paper submissions with an audit-able and trackable online system, the
2017 budget preparation process was strengthened against manipulation and
unauthorised alteration. All MDA budget proposals were uploaded to the new
system, for review and final collation by the Budget Office.

· More than
4,000 staff of the MDAs were specially trained to use the new application,
across multiple locations nationwide. Also to support the deployment of the
budget portal, the Budget Office set up a Helpdesk, accessible by telephone and
email, for authorised users.

Expansion of
TSA Coverage:

· On August
7, 2015, President Buhari issued a directive to all Ministries, Departments and
Agencies (MDAs) to close their accounts with Deposit Money Banks (DMBs) and
transfer their balances to the Central Bank of Nigeria on or before 15th
September 2015.

· This
decision to fully operationalise the Treasury Single Account (TSA) system — a
public accounting system that enables the Government to manage its finances
(revenues and payments) using a single/unified account, or series of linked
accounts domiciled at the Central Bank of Nigeria — has resulted in the
consolidation of more than 20,000 bank accounts previously spread across DMBs in
the country, and in savings of an average of N4.7 billion monthly in banking
charges associated with indiscriminate Government borrowing from the DMBs.

· As at
February 10, 2017, a total sum of N5.244 Trillion had flowed into the TSA. The
TSA allows the managers of the Government’s finances, including but not limited
to the Ministry of Finance and the Office of the Accountant-General of the
Federation, to have, at any point in time, a comprehensive overview of cash
flows across the entire Government.

· It also
ensures increased transparency in public financial management, as well as
prevents a scenario in which some MDAs have idle cash while other MDAs are
compelled to borrow exorbitantly from DMBs.

· The TSA
system was launched in 2012, but failed to gain traction until President
Buhari’s executive order in August 2015. As at December 2016, 766 MDAs were
TSA-compliant. The Ministry of Finance continues to fine-tune the system to
improve its efficiency, and has also commenced an audit to ensure that all funds
due to the TSA are remitted into it.

Deployment
of BVN for Payroll and Social Investment Programmes:

·
Considering that personnel costs are the Federal Government’s largest
expenditure line, the Federal Government has given priority to the deployment of
the BVN for payroll and pension audits. The use of BVN to verify payroll
entries on the Integrated Personnel Payroll Information System (IPPIS) platform
has so far led to the detection of more than 50,000 erroneous payroll entries.

· The
Federal Government has also ensured the deployment of BVN system to serve as
the verification basis for payments to beneficiaries and vendors in the N-Power
Scheme and the Homegrown School Feeding Programme (HGSFP)

Replacement
of old Cash-Based Accounting System with an Accruals-Based System:

· Cash
accounting makes no reference to the liabilities that the Federal Government
may be required to meet in the future nor does it recognise the benefits that
will be obtained from assets purchased over a period of time.

· The cash
accounting system fails to capture information on public sector assets and
liabilities which may present the illusion of positive financial results in the
short term, at the expense of longer-term fiscal stability and sustainability.

·
Accruals-based accounting, on the other hand, presents the true financial
position of the Federal Governments assets and liabilities, which would help
the Government plan future funding requirements for asset maintenance and
replacement, and the repayment of existing and contingent liabilities and,
thus, better manage their cash position and financing requirements.

· It
provides comprehensive information on Government’s current and projected cash
flows, leading to better cash management. For example, the conversion from cash
accounting to accrual accounting led to the discovery of unrecorded debts owed
contractors, oil marketers, exporters, electricity distribution companies and
others.

Enlistment
into Open Government Partnership (OGP):

· In May
2016, President Buhari attended and participated in the International
Anti-Corruption Summit organised by the UK Government. At that Summit he
pledged that Nigeria would join the OGP, an international transparency,
accountability and citizen engagement initiative.

· In July
2016, Nigeria became the 70th country to join the OGP. Following this, Nigeria
constituted an OGP National Steering Committee (NSC), which went on to develop
a National Action Plan (2017–2019) that aims to deepen and mainstream
transparency mechanisms and citizens’ engagement in the management of public
resources across all sectors.

· The
National Action Plan was submitted at the OGP Global Summit in Paris, France,
in December 2016.

Insistence
on Conditionality of Fiscal Support to States:

· The Fiscal
Sustainability Plan (FSP) is a reform programme that specifies conditions under
which States can access the Federal Government’s N510 billion Budget Support
Facility (BSF). The FSP was introduced to enhance fiscal prudence and
transparency in public expenditure, across the states. 35 States signed up.

·
Independent verification and auditing of participating States is now
ongoing — against the FSP conditions & milestones — by eight (8) accounting
firms.

· State
Governments that fail to implement the FSP action plans, as stated, will be
taken off the Budget Support Facility with immediate effect.

· The Fiscal
Sustainability Plan is part of our reform of Public Financial Management
Systems nationwide.

Creation of
Efficiency Unit (EU) to spearhead the efficient use of government resources,
and ensure reduction in Recurrent Expenditure:

· The
Efficiency Unit reviews all Government overhead expenditure, reduces wastage,
provides efficiency and ensures quantifiable savings for the country. Also, the
Unit identifies best practices in procurement and financial management for
adoption.

· The
Efficiency Unit’s efforts have resulted in more than N15 billion in savings on
travel, sitting allowances and souvenirs.

· There is
also potential savings of N7 billion on other expenditure lines where the unit
seeks to control spending through Circulars. In addition, there is on-going
work on the deployment of a price-checker, as well as the use of debit cards
for payments.

Asset
Recovery Reforms:

· The
Constitution of a Presidential Committee on Asset Recovery (PCAR), headed by
Vice President Yemi Osinbajo, to bring together all law enforcement agencies
involved in the recovery of assets; as well as designation of a dedicated
Central Bank Account to receive all recovered funds, for coordination and
transparency of management and oversight.

Oil and Gas

· Since
August 2015, NNPC began publishing its performance monthly (NNPC Monthly Oil
& Gas Report) in newspapers and various new media platforms and most
importantly on the NNPC website to improve transparency and probity.

· The
controversial Offshore Processing Arrangement (OPA) has been cancelled and
replaced with a ‘Direct Sales and Direct Purchase (DSDP)’ scheme with reputable
offshore refineries.

· Petroleum
Industry Governance Bill: Completion of work, by the Federal Ministry of
Petroleum Resources, on the draft of the Petroleum Industry Governance Bill.
The Bill has now been passed into law by the Senate, after 17 years of failed
efforts.

Reform of
longstanding Petroleum Sector Cash Call Arrangement:

· In 2016
the Federal Government exited the cash call arrangement by which the Nigerian
National Petroleum Corporation (NNPC) traditionally funded its share of the
crude oil exploration and production Joint Ventures (JVs) with International
Oil Companies (IOCs).

· The Cash
Call obligations had consistently put pressure on the Federal Government’s
finances, and a failure to fully fund them has resulted in the accumulation of
debt arrears of more than six billion dollars, as at December 2015.

· Starting
2017, a new funding mechanism is being introduced, which will allow the JVs to
transform into independent, self-financing entities. The advantages for the
Federal Government finances include: (1) freeing-up the Federal Government from
the budgetary obligation of coming up with the cash calls (savings made under
the new arrangement can be directed to critical Infrastructure projects), and
(2) a potential increase in Nigeria’s oil production to about 2.5 million
barrels per day, on account of optimal funding.

· Also as
part of the reforms, the debt arrears owed the IOCs have been negotiated
downwards to approximately US$5.1 billion — for which a long-term repayment
plan has been drawn up.

New
Whistleblowing Policy:

· The new
Whistleblowing Policy introduced by the Federal Ministry of Finance yielded,
within its first two months of operation, yielded $160m and N8 billion in
recoveries of stolen Government funds.

SECURITY

Capture of
Boko Haram’s operational and spiritual headquarters, “Camp Zero”, in Sambisa
Forest. Following this the Nigerian Army conducted its Small Arms Championship
from 26th to 31st March 2017, a measure aimed at enabling the Armed forces to
dominate the area, and avoid regrouping by the terrorists.

Establishment
of the Emergency Coordination Center (ECC) facilitated the fastest scale up of
relief assistance ever recorded in the Nigerian humanitarian response by
ensuring food assistance delivered was increased from 160,000 in June 2016 to
1.8million people by December 2016. The coordination efforts of the ECC at both
strategic and operational levels have ensured that Nigerians affected by the
insurgency receive the lifesaving assistance they need while simultaneously
assisting them in rebuilding their lives and safeguarding their human dignity.
Set up in October 2016, the ECC structure and leadership is recognised as an
example of international best practise in national humanitarian
coordination — as such, it has been replicated in Somalia to tackle its crisis.

More than
12,000 Boko Haram hostages have been freed from Boko Haram captivity, including
106 of the Chibok Girls abducted in April 2014.

Arrest of
Usman Mohammed, aka Khalid AlBarnawi, leader of the Ansaru Terrorist group and
one of the most wanted Terrorists in the world, with a US$6m United States
bounty on his head. He’s currently being prosecuted alongside his accomplices.
Also arrested and being prosecuted: Amodu Omale Salifu, leader of an ISIS
affiliate group active in North Central Nigeria.

Establishment
of civil authority in the areas affected by the Boko Haram insurgency. The
Nigeria Police Force and the Nigerian Security and Civil Defence Corps (NSCDC)
have deployed officers in liberated areas to take over effective civil
responsibility from the military, and secure and maintain law and order in the
affected areas. The NSCDC has also deployed 5,000 personnel to the North-East to
protect the Internally Displaced Persons’ (IDPs) camps and re-occupy the
reclaimed towns and villages.

Transfer of
2 Nos. AW 101 Helicopter from the Presidential Air Fleet to the Nigerian Air
Force, for deployment in support of Operation LAFIYA DOLE in the North East.
Also transferred to the NAF: 3 EC-135 and 3 Dauphin helicopters, from the
Nigerian National Petroleum Corporation (NNPC)

Establishment
of a Naval Outpost in the Lake Chad Basin.

Establishment
of the 8 Task Force Division in Monguno to further strengthen military presence
in the North East.

· Operation
Safe Haven to curtail the incessant clashes between Fulani herdsmen and farmers
in the North Central(Plateau, Nasarawa, and Benue states).

· Exercise
Crocodile Smile to curtail the menace of militant activities in the Niger Delta

· Exercise
Obangame, a multinational operation aimed at securing and protecting the Gulf
of Guinea.

· Operation
Awatse, a joint operation between the Military and the Police, in South West
Nigeria, to flush out militants and pipeline vandals

· Operation
Python Dance in the South East to tackle kidnappers and militant elements.

DIPLOMACY
AND INTERNATIONAL RELATIONS

Re-establishment
of Nigeria’s position and influence in the regional and global arena.
Fragile/broken relations with the United States, United Kingdom, South Africa,
and with neighbouring countries (Chad, Niger, Cameroon) have been revived and
strengthened since June 2015. The Meeting of the was the first since 2009.

Nigeria’s
prominent participation in the London Anti-Corruption Summit and the
Commonwealth Conference on Tackling Corruption, in May, 2016 in London. Major
outcomes of these events include:

· The
establishment of a Global Forum for Asset Recovery to be hosted by the
governments of the US and UK this year, to focus on assisting Nigeria and three
other countries to reclaim their stolen assets.

· The
signing, in August 2016, of an MoU with the UK Government on modalities for the
return of Nigeria’s stolen assets in the UK.

In 2016
Nigeria signed an Agreement on the identification and repatriation of Illicit
Funds with the United Arab Emirates during the Visit of Mr. President to that
country.

The Federal
Government under President Buhari has engaged the governments of Switzerland,
Jersey Island, United States, United Arab Emirates, and Liechtenstein among
others, in an effort to ensure the repatriation of Nigeria’s stolen assets. So
far, the Swiss government has agreed to repatriate illicit loot of about USD320
million, while another tranche is being expected from the Jersey Islands.

The Buhari
Administration has mobilized International Support for the War against Boko
Haram, forging strong partnerships with key countries, including the United
States, the United Kingdom, France and Germany, ECOWAS, the AU, the UN, and
others.

The Buhari Administration
has revamped the Multinational Joint Task Force (MNJTF) comprising troops from
Nigeria and Chad, Niger, Cameroon and Benin; this revamp has contributed
significantly to the weakening of Boko Haram.

Landmark
Government-to-Government engagements with China and Morocco, aimed at
developing and upgrading National Infrastructure.

Nigeria’s
successful rallying of OPEC and Non-OPEC members to discuss stabilisation of
the global oil market in Doha and in Algiers, and the successful negotiation of
an exemption from the OPEC production freeze agreed at the 171st OPEC
Ministerial conference in Vienna in November 2016; leading to a rise in oil
prices to US$55/bbl for the first time in 16 months.